The usual balance is not a method of finance charge
What is finance charge?
Finance charge is simply a way a lender is compensated.
There are several methods of finance charge; these methods include
- Average daily balance
- Daily balance
- Two-cycle billing
- Previous balance
From the above options, we can see that the usual balance is not a method of finance charge
Read more about finance charge at:
https://brainly.com/question/4403314
